Que. 1 : A completed proposal form broadly gives which of the following information?
   1.  Details of the insured
   2.  Details of the physical features both positive and negative
   3.  Previous history of insurance and loss
   4.  All of the above
Que. 2 : As per guidelines, an insurance company has to process an insurance proposal within __________.
   1.  7 days
   2.  15 days
   3.  30 days
   4.  45 days
Que. 3 : Which of the below statemment is correct regarding prospectus?
   1.  A Prospectus is a document issued by the insurer or on its behalf to the prospective buyers of insurance. It is usually in the form of a brochure or leaflet and serves the purpose of introducing a product to such prospective buyers. Issue of prospectus is governed by the Insurance Act, 1938 as well as by Protection of Policyholders’ Interest Regulations 2002 and the Health Insurance Regulations 2015 of the IRDAI.
   2.  The prospectus of any insurance product should clearly state the scope of benefits, the extent of insurance cover and explain in a clear manner the warranties, exceptions and conditions of the insurance cover.
   3.  The allowable riders (also called Add-on covers) on the product should also be clearly stated with regard to their scope of benefits. Also, the premium related to all the riders put together should not exceed 33% of the premium of the main product.
   4.  All of the above
Que. 4 : Which of the below statemment is not correct regarding prospectus?
   1.  A Prospectus is a document issued by the insurer or on its behalf to the prospective buyers of insurance. It is usually in the form of a brochure or leaflet and serves the purpose of introducing a product to such prospective buyers. Issue of prospectus is governed by the Insurance Act, 1938 as well as by Protection of Policyholders’ Interest Regulations 2002 and the Health Insurance Regulations 2013 of the IRDAI.
   2.  The prospectus of any insurance product should clearly state the scope of benefits, the extent of insurance cover and explain in a clear manner the warranties, exceptions and conditions of the insurance cover.
   3.  The allowable riders (also called Add-on covers) on the product should also be clearly stated with regard to their scope of benefits. Also, the premium related to all the riders put together should not exceed 33% of the premium of the main product.The allowable riders (also called Add-on covers) on the product should also be clearly stated with regard to their scope of benefits. Also, the premium related to all the riders put together should not exceed 33% of the premium of the main product.
   4.  All of the above
Que. 5 : Which of the below statemment is not correct regarding prospectus?
   1.  A Prospectus is a document issued by the insurer or on its behalf to the prospective buyers of insurance. It is usually in the form of a brochure or leaflet and serves the purpose of introducing a product to such prospective buyers. Issue of prospectus is governed by the Insurance Act, 1938 as well as by Protection of Policyholders’ Interest Regulations 2002 and the Health Insurance Regulations 2015 of the IRDAI.
   2.  The prospectus of any insurance product should clearly state the scope of benefits, the extent of insurance cover and explain in a clear manner the warranties, exceptions and conditions of the insurance cover.
   3.  The allowable riders (also called Add-on covers) on the product should also be clearly stated with regard to their scope of benefits. Also, the premium related to all the riders put together should not exceed 30% of the premium of the main product.
   4.  All of the above
Que. 6 : Which of below is a information which a prospectus should disclose?
   1.  Any differences in covers and premium for different age groups or for different entry ages
   2.  Renewal terms of the policy
   3.  Terms of cancellation of policy under certain circumstances
   4.  All of the above
Que. 7 : Which of below is a information which a prospectus should disclose?
   1.  The details of any discounts or loading applicable under different circumstances
   2.  Renewal terms of the policy
   3.  Terms of cancellation of policy under certain circumstances
   4.  All of the above
Que. 8 : Which of below is a information which a prospectus should disclose?
   1.  The details of any discounts or loading applicable under different circumstances
   2.  The possibility of any revision or modification of the terms of the policy including the premium
   3.  Terms of cancellation of policy under certain circumstances
   4.  All of the above
Que. 9 : Which of below is a information which a prospectus should disclose?
   1.  The details of any discounts or loading applicable under different circumstances
   2.  The possibility of any revision or modification of the terms of the policy including the premium
   3.  Any incentives to reward policyholders for early entry, continued renewals, favourable claims experience etc. with the same insurer
   4.  All of the above
Que. 10 : Which of below is a information which a prospectus should disclose?
   1.  The details of any discounts or loading applicable under different circumstances
   2.  A declaration that all its Health insurance policies are portable which means that these policies can be renewed with any other insurer who offers similar cover with the same benefits he would have enjoyed had he continued with the existing insurer.
   3.  Any incentives to reward policyholders for early entry, continued renewals, favourable claims experience etc. with the same insurer
   4.  All of the above

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